Two out of three judges in the Court of Appeal in London allowed an appeal brought by Unite against a ruling in favour of BA on Monday by Mr Justice McCombe in the High Court. More.....

A year ago, Germany's financial regulator BaFin warned that the toxic debts of the country's banks would blow up "like a grenade" once hidden losses from the credit crisis caught up with them.

An internal memo at the time showed that BaFin feared write-offs might top €800bn (£688bn), twice the reserves of Germany's financial institutions. Nobody paid much attention. But theregulator's shock move on Tuesday night to stop short trading on banks, insurers, eurozone bonds – as well as a ban credit default swaps (CDS) on sovereign debt – has left markets wondering whether the slow fuse on Germany's banking system has finally detonated.

Shocked European ministers are preparing for emergency talks to shore up the euro after markets fell in reaction to panic measures in Germany.

Angela Merkel stunned EU capitals by warning that the euro was in danger and triggered fears of a fresh financial meltdown by announcing a ban on risky trading practices by speculators. The German Chancellor’s actions opened up new cracks in the single currency, drawing sharp criticism from France and prompting Brussels to issue an appeal for unity. More.....

Home Information Packs (HIPs) are to be scrapped with immediate effect, the coalition Government announced today.

The unpopular packs — which contained information required before a seller could put their home on the market — was “pointless red-tape” that was “strangling the housing market”, the Housing Minister Grant Shapps said.

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